But that shouldn’t be a barrier to operating in a global marketplace. Organizations of all sizes are expanding their footprints across borders. The success of your company’s global network shouldn’t be impacted by the cost and complexities of making and receiving international payments.
Each country has its own fiscal rules and tax regulations that business entities must adhere to when invoicing, and not obeying those mandates can result in fines and penalties. As we move into an increasingly digital marketplace, many governments are requiring electronic invoicing as a solution to complying with federally mandated tax regulations. Electronic invoicing, or eInvoicing, provides consistency and control to the invoice process and provides governments with transparent access to invoice data.
eInvoicing requirements can vary quite a bit by country, and we can help you sort through the rules and regulations.
If your organization has international suppliers or subsidiaries that are required to participate in eInvoicing, DataServ can help keep you compliant – no matter what digital file type the government requires the invoices to be in. Our Digital Mailroom can ingest all electronic document types into a single stream with your other paper and digital invoices. Our workflow offers controls and compliance for all countries, meaning you don’t need individual solutions for each country’s different eInvoicing mandates.
It’s advisable to also produce and store invoices in an electronic format that is easily readable, like PDFs, because the government-required file types (most often XML) can be difficult to interpret. If your supplier doesn’t provide this to your organization, DataServ can. We can take any file type, including EDI and XML, and use it to generate standard, readable electronic invoices to keep on file in the event of an audit or internal request. These files can be linked to the government-mandated file type in DataServ, so both files are easy to find and access. Additionally, all government-issued certification or control numbers are indexed and searchable.